MTN Nigeria has commenced the public offer of its 575 million shares to retail investors at N169 per share. This offer will last from December 1, 2021 to December 14, 2021.
Retail investors are non-professional investors, i.e. a person who does not pursue investing as a career is a retail investor.
According to the mobile telecommunications company official website, the offer “is in line with MTN Group’s commitment to reduce its shareholding in MTN Nigeria from 78.8% to 65% over time. The objective of the Offer is to provide as many Nigerian retail investors as possible with an opportunity to own shares in MTN Nigeria”.
MTN further explains that “the minimum application is 20 shares and multiples of 20 shares thereafter, so 20, 40, 60, 80, 100, 120…etc. There is no maximum, however, the amount of shares allotted will be within the offer size of up to 575,000,000 ordinary shares.”
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Shares are units of ownership of a particular company. In other words, when you are a shareholder of a company, you have a percentage of ownership in the company. This percentage of the company’s capital entitles the holder to a proportion of its profits.
Since the cost of one share has been pegged at N169, it means getting the minimum of 20 shares will cost N3,380.
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Participants’ Guide to MTN’s Offer
- Must be at least 18 years of age
- The minimum number of shares to be applied for is 20 and multiples of 20 thereafter.
- A valid BVN is also a requirement for registration
- Submission of application on PrimaryOffer.
- CHN and CSCS accounts are required. A CSCS account number is created for you by your stockbroker and used for buying and selling securities. CHN (Clearing House Number) is a unique number that identifies each investor in the Nigerian Capital Market.
The two basic ways of participating in this offer are through the;
- Primaryoffer app, and
- Receiving agents (Banks, and Momo agents)
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How to buy MTN shares with the Primary offer app
- Simply download the app from the Google Playstore or Apple store and sign up for an account by using your date of birth, email, bank verification number.
- Activate the account with the one-time password (security code) that will be sent to your email
- Log into the account, click on MTN Nigeria offer and read the terms and conditions. If satisfied, mark the unchecked box for acceptance of the terms and click on purchase.
- Select the number of shares you want to buy, with the minimum being 20 and enter your CSCS account details. If you do not have one, the app will easily set one up for you.
- Make payment of N3,380 (excluding bank charges) through your credit card, or USSD.
Congratulations, you’re now one of MTNs shareholders.